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Government, Vital agree on privatisation method
Vrbas,
13 September 2004
Serbian Deputy Prime Minister Miroljub Labus said today that full agreement has been reached between the management of Vrbas’ cooking oil factory, Vital, and the Serbian government on a method of privatization for Vital.
Miroljub Labus
At a press conference following his visit to Vital, Labus called on small shareholders to join together to create a majority stake together with the government and then sell it at a tender. He stressed that this is a way in which the government wants to privatise all well-performing firms in which it holds a 40 percent stake.
This method, according to Labus, will help find a strategic partner who will be required to invest in the company. Investment should be secured through privatisation, since loans are very expensive, he said.
Labus also stressed that finding an investor who would produce for the domestic market only is not enough, explaining the need to export products so as to improve the country’s balance of payments.
This method, according to Labus, will help find a strategic partner who will be required to invest in the company. Investment should be secured through privatisation, since loans are very expensive, he said.
Labus also stressed that finding an investor who would produce for the domestic market only is not enough, explaining the need to export products so as to improve the country’s balance of payments.
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